Get Legal Help Today
Secured with SHA-256 Encryption
How long do you have to wait to file a ch.7 after receiving your tax refund without the court wanting it back????
Asked on May 20, 2009 under Bankruptcy Law, Ohio
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
It doesn't work that way. It is not about the wait but how much asset you have and whether or not the trustee will use your assets to offset debts.
Read the following from the freeadvice.com section on bankruptcy:
Who owns my tax refund?
Since your right to receive a tax refund accrues as the tax year passes, it's an asset of your estate. Unless it's covered by an exemption; therefore, your trustee is entitled to it.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.